BANGKOK, Sept. 25 (Xinhua) -- Thailand's exports expanded for a second straight month in August, thanks to growth in agricultural and industrial product shipments, official data showed on Wednesday.

Exports, a key driver of the Southeast Asian country's economic growth, grew 7 percent last month from a year earlier to 26.18 billion U.S. dollars, slowing sharply from an increase of 15.2 percent in July, which recorded the highest growth in 28 months, according to the Ministry of Commerce.

The rise in exports was driven by easing inflationary pressures, which boosted consumer purchasing power and demand for Thai goods, while volatile weather conditions in various countries and the recovery of the service sector in key markets fueled increased demand for agricultural and food products, the ministry said in a statement.

Exports of agricultural products jumped 17.5 percent on robust growth in rubber and rice shipments, while agro-industrial goods soared 17.1 percent.

Industrial product shipments increased 5.2 percent, marking its fifth consecutive month of expansion, owing to major increases in computer, machinery, telephone and air conditioning products.

The data also showed that Thailand's imports rose 8.9 percent year-on-year to 25.91 billion dollars in August, resulting in a trade surplus of 264.9 million dollars.

For the first eight months of 2024, exports climbed 4.2 percent to 197.19 billion dollars, while imports picked up 5 percent to 203.54 billion dollars, yielding a trade deficit of 6.35 billion dollars.

Thailand's exports are expected to continue growing in the remaining months of the year, buoyed by a rebound in global consumption on the back of easing inflation and a shift towards more accommodative monetary policies in key economies, said Poonpong Naiyanapakorn, director general of the ministry's Trade Policy and Strategy Office.

Additionally, demand for Thai agricultural products is projected to increase, which aligns with trade partners' food security policies and is further reinforced by global climate fluctuations impacting production in various nations, Poonpong told a news conference.

The ministry maintains its target for exports to grow between 1 percent and 2 percent this year after the kingdom's exports fell 1 percent in 2023. Enditem

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